Germany’s Commerzbank has agreed to buy a 74.9% stake in Aquila Group’s renewable energy and real assets arm Aquila Capital Investmentgesellschaft.
The German bank will own Aquila Capital Investmentgesellschaft alongside the firm’s current parent Aquila Group, which will retain 25.1%. The deal is due to close by the end of June 2024 and will enable CommerzBank to grow its real assets portfolio to more than €40bn.
Aquila Capital currently manages assets worth almost €15bn on behalf of global investors, including 16.6GW of wind, solar and hydro developments. Aquila Capital also invests in data centres, real estate and sustainable logistics projects.
Roman Rosslenbroich, co-founder and chief executive of Aquila Group, said: “The partnership with Commerzbank significantly expands our client network, facilitates the swift development of new, attractive investment products aimed at a net-zero economy and strengthens Aquila Group’s position in the market.”
Thomas Schaufler, member of Commerzbank’s board of managing directors responsible for private and small business customers, said: “The strategic partnership with the Aquila Group and the majority stake in Aquila Capital Investmentgesellschaft are growth accelerators for our dedication to sustainable investments. Aquila Capital Investmentgesellschaft excellently complements our expertise in Commerzbank and Commerz Real.”